UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Acquires 123,124 Shares of MGM Resorts International (NYSE:MGM)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in MGM Resorts International (NYSE:MGM - Free Report) by 5.7% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,298,094 shares of the company's stock after purchasing an additional 123,124 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned approximately 0.77% of MGM Resorts International worth $89,832,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of MGM. Fisher Asset Management LLC boosted its holdings in MGM Resorts International by 2.0% in the third quarter. Fisher Asset Management LLC now owns 4,547,883 shares of the company's stock valued at $177,777,000 after acquiring an additional 90,645 shares during the last quarter. FMR LLC raised its holdings in MGM Resorts International by 5.0% in the third quarter. FMR LLC now owns 1,681,699 shares of the company's stock worth $65,738,000 after purchasing an additional 79,486 shares during the period. Empower Advisory Group LLC boosted its position in shares of MGM Resorts International by 4.2% during the third quarter. Empower Advisory Group LLC now owns 1,571,492 shares of the company's stock worth $61,430,000 after purchasing an additional 62,997 shares in the last quarter. Marshall Wace LLP increased its position in shares of MGM Resorts International by 174.8% in the 2nd quarter. Marshall Wace LLP now owns 1,110,040 shares of the company's stock valued at $49,330,000 after buying an additional 706,159 shares in the last quarter. Finally, Key Colony Management LLC raised its stake in MGM Resorts International by 11.1% during the 3rd quarter. Key Colony Management LLC now owns 883,000 shares of the company's stock worth $34,516,000 after buying an additional 88,000 shares during the period. Institutional investors and hedge funds own 68.11% of the company's stock.

Insider Activity at MGM Resorts International

In related news, Director Keith A. Meister sold 121,000 shares of the business's stock in a transaction on Friday, September 13th. The stock was sold at an average price of $36.72, for a total transaction of $4,443,120.00. Following the sale, the director now directly owns 5,738,478 shares in the company, valued at approximately $210,716,912.16. The trade was a 2.07 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 2.83% of the stock is currently owned by insiders.

MGM Resorts International Trading Down 2.0 %

MGM traded down $0.78 during trading on Tuesday, reaching $37.51. 4,211,509 shares of the stock traded hands, compared to its average volume of 4,075,517. The company has a quick ratio of 1.21, a current ratio of 1.24 and a debt-to-equity ratio of 1.63. The stock's 50-day moving average is $38.73 and its 200 day moving average is $39.57. MGM Resorts International has a 12 month low of $33.44 and a 12 month high of $48.24. The stock has a market capitalization of $11.17 billion, a PE ratio of 13.40, a P/E/G ratio of 2.73 and a beta of 2.20.

MGM Resorts International (NYSE:MGM - Get Free Report) last posted its quarterly earnings results on Wednesday, October 30th. The company reported $0.54 EPS for the quarter, missing analysts' consensus estimates of $0.58 by ($0.04). The company had revenue of $4.18 billion during the quarter, compared to analyst estimates of $4.21 billion. MGM Resorts International had a return on equity of 25.84% and a net margin of 5.23%. The company's revenue for the quarter was up 5.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.64 earnings per share. Equities analysts anticipate that MGM Resorts International will post 2.5 earnings per share for the current year.

Analysts Set New Price Targets

Several analysts have commented on the stock. Morgan Stanley raised their target price on shares of MGM Resorts International from $43.00 to $44.00 and gave the stock an "equal weight" rating in a report on Tuesday, October 22nd. JMP Securities lowered their target price on shares of MGM Resorts International from $54.00 to $50.00 and set a "market outperform" rating on the stock in a report on Monday, November 25th. Barclays reduced their target price on MGM Resorts International from $54.00 to $50.00 and set an "overweight" rating for the company in a research note on Thursday, October 31st. UBS Group upgraded MGM Resorts International to a "hold" rating in a report on Friday, August 23rd. Finally, Mizuho lowered their price target on shares of MGM Resorts International from $57.00 to $56.00 and set an "outperform" rating on the stock in a research report on Thursday, October 31st. Four analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $52.85.

MGM Resorts International Company Profile

MGM Resorts International, through its subsidiaries, owns and operates casino, hotel, and entertainment resorts in the United States and internationally. The company operates through three segments: Las Vegas Strip Resorts, Regional Operations, and MGM China. Its casino resorts offer gaming, hotel, convention, dining, entertainment, retail, and other resort amenities.